Thousands of jobs to go in Yahoo blitz
The 14,000 employees of Yahoo are bracing for thousands of layoffs that could begin as early as this week as the company's new chief executive finalises a major new strategy for the internet firm.
Scott Thompson has begun briefing his senior executives on his plans to slim down and refocus the company, whose fortunes have plunged since Google and Facebook have shaken up the internet.
Yahoo poached Mr Thompson from the payment firm PayPal in January, having fired the previous chief executive, Carol Bartz, after she failed to find a way out of the company's strategic malaise.
Job losses are expected across the board, but weekend reports suggested the marketing and product development groups could be hardest hit.
Mr Thompson is believed to have decided to focus Yahoo on existing online media and advertising businesses.
"There are pockets of greatness in Yahoo, and there are pockets of 'are you kidding me?'" said Shelly Palmer, technology consultant and founder of Advanced Media Ventures.